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As part of the Sustainable Finance Week Ireland 2024 (SFWI) programme, global leaders in finance and sustainability gathered for the SFWI Dinner on Tuesday, 26th November. This prestigious event celebrated exceptional contributions to sustainable finance and marked a key highlight of the wider SFWI programme. During the dinner, the International Leadership in Sustainable Finance Award was presented to Frank Elderson, Member of the Executive Board and Vice-Chair of the Supervisory Board of the European Central Bank. This award recognises Elderson’s outstanding efforts in driving innovative strategies that equip financial institutions to address the challenges of climate adaptation and sustainable development. Elderson’s work has been instrumental in embedding sustainable finance principles across the sector, ensuring that financial systems are resilient and adaptive to the evolving demands of environmental and social challenges. Ireland’s Leadership in Sustainable Finance The SFWI Dinner also underscored Ireland’s commitment to leadership in sustainable finance. The event took place as part of a week-long programme showcasing Ireland’s efforts to advance sustainability and financial innovation. A key development highlighted during the dinner was the recent government approval to begin negotiations for establishing a UNDP Project Office in Dublin. This initiative will enhance Ireland’s position as a global leader in sustainable finance and foster international collaboration on critical sustainability goals. Sustainable Finance Week Ireland 2024 has brought together prominent leaders, innovators, and stakeholders to drive collective action on sustainable finance. From policy advancements to practical solutions, the week’s events continue to highlight the transformative potential of sustainable finance in shaping a better future for all.

Achieving net-zero emissions by 2050 and limiting global average temperature increases to 1.5ºC above pre-industrial levels are critical to mitigating the worst impacts of climate change. Reaching these goals requires a rapid transformation of the global economy, where financial markets play a pivotal role by offering financial products and services that enable emissions reductions and scale low-carbon solutions. The economy-wide transition to a low-carbon future presents significant investment opportunities. According to the IEA, global clean energy investment needs to rise to approximately $4.5 trillion annually by 2030 to meet the 1.5°C target. Similarly, Citi estimates that decarbonising sectors such as aviation, shipping, road freight, steel, and cement could demand up to $1.6 trillion per year. Equity investments in transition-enabling companies are expected to grow during this critical decade for climate action. Private equity, venture capital, and asset managers are likely to see increasing demand for transition finance. Other financial instruments and asset classes, including insurance, real estate, infrastructure investments, and public equity products like transition-related ETFs and indices, will also play a key role in scaling transition finance. Each asset class offers unique contributions, requiring tailored guidance to ensure its credibility. Building Momentum with Transition Finance Transition finance is becoming a cornerstone of sustainability efforts, accelerating the energy transition, fostering international environmental cooperation, decarbonising transport, and advancing regional and local climate initiatives. Frameworks like the Glasgow Financial Alliance for Net Zero (GFANZ), Climate Bonds Initiative (CBI), and taxonomies such as the Singapore-Asia and ASEAN taxonomies are guiding the market towards greater convergence and clarity. Accessing transition finance requires entities to present credible plans for achieving net-zero by 2050. This planning not only mitigates environmental and financial risks but also boosts competitiveness for Irish and European industries. For Ireland, it is a strategic approach to identifying funding gaps, uncovering investment opportunities, and mobilising resources to achieve climate neutrality. To fully leverage transition finance, the EU Commission and major public finance providers, such as central banks and national development banks, should establish targeted programs to identify sectoral priorities with businesses, banks, and insurers. Setting a unified direction for Ireland’s economic transition through multistakeholder engagement will ensure that transition finance tools are effective and aligned with national goals. Ireland’s Sustainable Finance Ecosystem A robust sustainable finance ecosystem in Ireland will require a focus on skills development, creating a strong stakeholder network, and establishing a knowledge hub to support informed decision-making. These efforts will underpin the country’s ability to mobilise and manage finance for climate neutrality effectively. These challenges and opportunities offer a valuable area for exploration, particularly for Ireland and the UK. At our event, the Irish-U.K. Transition Finance Summit, we aim to foster an objective dialogue with key stakeholders, working collaboratively to identify practical strategies to drive progress in transition finance. Register for the event here to join the conversation and help shape the future of sustainable finance. Register Now

As COP29 unfolds in Baku, Azerbaijan, world leaders are gathering to address critical climate challenges and shape the future of climate finance. Sustainable Finance Week Ireland 2024 (SFWI 2024), running from November 25–29, will build on these discussions to explore how we can turn climate finance priorities into action. Here’s a look at some of the key issues on the table and how they’ll be examined during SFWI 2024. 1. Setting a New Global Target for Climate Finance At what is being referred to as the “Climate Finance COP,” COP29 delegates from around the world are expected to establish a new global target for climate finance, known as the New Collective Quantified Goal (NCQG). This target will replace the current $100 billion goal, which is set to expire in 2025. As nations work toward a new funding goal, SFWI 2024 will explore what this means for Ireland, the UK, and the broader global community, focusing on how these ambitious targets can be implemented and supported by financial institutions. 2. Advancing the Loss and Damage Fund One of the most pressing issues at COP29 is advancing the Loss and Damage Fund, which was established at COP28. This fund serves as a crucial international mechanism to address the unavoidable impacts of climate change, particularly for vulnerable nations. At SFWI 2024, we’ll discuss the role of finance in supporting adaptation and recovery efforts and how this fund could be a game-changer in addressing the realities of climate-related losses. 3. Aligning Climate Commitments with a 1.5°C Target By February 2025, all countries are expected to submit updated climate targets, known as Nationally Determined Commitments (NDCs), which should align with the reductions needed to limit global temperature rise to 1.5°C. These commitments are essential for averting the most severe impacts of climate change. SFWI 2024 will provide a platform for discussing the strategies and actions required to meet these targets, focusing on how financial institutions and governments can collaborate to drive meaningful progress. 4. Implementing Article 6 and the Role of Carbon Markets Negotiators at COP29 are working to finalise the guidelines for Article 6 of the Paris Agreement, which enables countries to collaborate on emission reduction targets. This provision also allows for the trading of carbon credits, enabling nations to support each other in meeting their climate goals. During SFWI 2024, experts will discuss the potential of carbon markets and international cooperation as tools for achieving climate objectives and mobilising capital for a sustainable future. 5. Enhancing Transparency with Biennial Reports Transparency is a critical aspect of climate action. Countries are now expected to submit Biennial Transparency Reports under the Paris Agreement, outlining their climate actions and adaptation efforts. These reports are intended to provide a clearer picture of global progress. SFWI 2024 will delve into how transparency and accountability can be strengthened across the finance sector, highlighting the role of reporting in achieving climate goals. Join Us at SFWI 2024 SFWI 2024 will provide a unique opportunity to engage with leaders, policymakers, and industry experts who are at the forefront of sustainable finance. With COP29 setting the stage, SFWI 2024 will be the place to discuss how we can turn climate finance priorities into actionable strategies that make a difference. Be part of the conversation, connect with like-minded professionals, and contribute to shaping a sustainable future. Register now and secure your place at Sustainable Finance Week Ireland 2024. Register Now

Sustainable Finance Week Ireland 2024 is just around the corner! This event, taking place from November 25-29, 2024, brings together leading experts, innovators, and stakeholders committed to advancing sustainable finance practices in Ireland and beyond. We’re thrilled to share a preview of some of the topics that will be discussed during the event, along with insights from Dr. Rory Sullivan, CEO of Chronos Sustainability, on Ireland’s unique role and contributions to the global sustainable finance landscape. What does Ireland’s role in sustainable finance mean, and how is it shaping the global financial landscape? Ireland has long been a hub of innovation and collaboration in sustainable finance. According to Dr. Sullivan, Ireland’s approach to sustainable finance has set an example through effective partnerships between the public and private sectors. This collaboration has catalysed initiatives like: Catalysing Social Enterprises: Public finance plays a vital role in enabling social enterprises, helping them develop sustainable business models and secure necessary funding. Funding Pathways: Innovative pathways have been created to transition from public to private finance and from not-for-profit to for-profit models. These pathways are essential for scaling up sustainable initiatives and making them viable long-term. Through these efforts, Ireland has the potential to inspire and contribute to a broader, global community of sustainable finance practitioners. How has industry collaboration driven progress in sustainable finance, and why is it crucial for future developments? One of the key challenges facing sustainable finance in Ireland is not just collaboration, but coordination. Dr. Sullivan highlights that the industry comprises various stakeholders, including funders, intermediaries, researchers, and regulators, all of whom play important roles. However, the lack of coordination can lead to funding “blackspots” where needs go unmet. Coordinated Efforts: To drive real progress, it’s essential for these stakeholders to share knowledge, insights, and resources. By aligning supply and demand for capital, the industry can better address gaps and direct funding where it’s most needed. What unique insights and key trends will be shared at Sustainable Finance Week Ireland 2024? Dr. Sullivan will be presenting collaborative research conducted with ISFCOE, focusing on two major themes: Impact Investment: This research will cover the funding journey of impact investment and how social enterprises can scale their positive impact. Key insights will include strategies for attracting investment and delivering meaningful outcomes at a societal level. Social Finance with a Diversity Lens: The second theme dives into social finance with a special emphasis on diversity and inclusion. The research explores how the structure of the finance sector in Ireland influences the investment industry’s approach to gender and diversity issues. These themes reflect the growing recognition of the importance of inclusive and impact-oriented finance in Ireland and worldwide. Register Now